PV Holding Corporation is the parent company of Avis Budget Group, the renowned vehicle rental company. Its global headquarters is located at 6 Sylvan Way, Parsippany, N.J. The group also operates Zipcar, a car sharing network.Know More
The company was founded in 1946 by Warren Avis and grew quickly due to its then-unique model of renting cars from airport locations. So rapid was the growth that by 1953 it was the second largest car rental company in the United States. The company went on to open offices in other countries. By 1956, it had branches in neighboring Canada and Mexico. In 1963, under the tenure of Robert Townsend, the company introduced its iconic tagline, "We try harder." That was changed to, "It's your space," in 2012. In 1973, the company introduced Wizard, its proprietary reservations system. The company, its subsidiaries and franchisees operate in more than 5,000 locations all over the world.
Budget, on the other hand, was founded by Morris Mirkin in 1958. Keeping to the spirit of its name, it operated a low-cost model, undercutting its competitors. In 1987, the company launched its initial public offering. It was bought and sold by a succession of companies, eventually coming under the same stable with Avis in 2006. The company and its licensees operate from more than 800 locations in the United States.Learn more about Corporations
A Fortune 500 company is a U.S. corporation that has been included on Fortune magazine's annual list of the top 500 companies ranked by an analysis of sales, assets, earnings and capitalization. This list represents a performance standard for U.S. companies and serves as an important analysis for researchers and investors.Full Answer >
A multinational corporation is a company that has an established presence in a country beside its home country. They generally have a headquarters in their home country that centralizes the management of their global facilities.Full Answer >
An American multinational corporation is a company based in the United States that has wholly or partially owned foreign subsidiaries. U.S. companies have taken advantage of efficiencies offered by foreign markets since the mid-19th century. Singer is reported to be the first American multinational company.Full Answer >
The chain of command for a corporation is the formal ladder of authority and responsibility within a company. The chain of command within a corporation is usually outlined by an organizational chart that connects each branch from the top of the chart to each subordinate arm. This organizational chart outlines that each person, branch or department answers to only one superior.Full Answer >